Peachtree 2012 Annual Report Download - page 73

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Remuneration report continued
Executive share options (audited information)
The Group’s only current executive share option scheme is the ESOS. In the year under review, executive directors did not receive grants under this scheme.
The outstanding executive share options granted to each director of the Company under the executive share option schemes, including the ESOS, are as follows:
Director
Shares under
option at
30 September
2012
number
G S Berruyer 171.00p 175,438 – – – 175,438 24 December 2006 – 24 December 2013
198.00p 189,082 – – – 189,082 6 January 2008 – 6 January 2015
258.50p 122,630 – – – 122,630 10 January 2009 – 10 January 2016
270.00p 62,008 – – – 62,008 10 January 2010 – 10 January 2017
549,158 – – – 549,158
P S Harrison 171.00p 128,654 – – – 128,654 24 December 2006 – 24 December 2013
198.00p 133,838 – – – 133,838 6 January 2008 – 6 January 2015
258.50p 96,324 – – – 96,324 10 January 2009 – 10 January 2016
270.00p 49,777 – – – 49,777 10 January 2010 – 10 January 2017
408,593 – – – 408,593
Total 957,751 – – – 957,751
Notes:
• No options were varied during the year.
• Options granted to all directors of the Company and its operating subsidiaries throughout the Group under the ESOS that became exercisable on or after 23 February 2003 but before
6 January 2008 will normally be exercisable only if the percentage increase in the Company’s EPS has exceeded the RPI by at least 3% each year in the three-year period since grant,
i.e. by a total of 9%. If that target is not met at the end of the three-year period, then those options will only be exercisable if EPS growth exceeds RPI by 12% over the four-year
period following the date of grant. In respect of options which became exercisable on or after 6 January 2008 the performance criteria for exercise are based on EPS growth
measured over a fixed three-year period from the start of the financial year in which the grant is made. 30% of options will vest at the end of the period if the increase in EPS exceeds
RPI by 15% (an average of 5% per year) and 100% of those options will vest at that time only if RPI is exceeded in that period by 27% (an average of 9% per year). Between those
targets, options will vest on a straight-line basis. If those targets are not met at the end of the three-year period, then no further retesting of the performance criteria will be undertaken
and the options will lapse.
• The market price of a share of the Company at 28 September 2012 was 313.40p and the lowest and highest market price during the year was 247.70p and 324.80p respectively.
Overview
Performance
GovernanceFinancial statements
71
The Sage Group plc | Annual Report & Accounts 2012